Skip to main content
PLEASE NOTE: For everyone’s safety, Fasken requires anyone on-site at our Canadian and Johannesburg offices to provide proof of full vaccination against COVID-19. This applies to lawyers, staff, clients, service providers and other visitors.
Media Coverage

Michael Avery, anchor of Classic Business on Classic FM, interviews Matthew Burnell on the liability of directors despite insolvency in South Africa

Fasken
Reading Time 1 minute read
Subscribe

Overview

“Sustainability Feature: Directors Still Liable, Despite Insolvency” by Michael Avery, Classic FM

Listen to podcast

“The most difficult example I think is where the company owes a performance as opposed to a monetary amount. And in those cases, the performance can’t necessarily be fulfilled, the liquidator might have to try and sell the company or sell that responsibility on to a third party. Where the legislation permits it, the state could stick into the shoes of the company, perform that rehabilitation and then claim that liability or the cost of that liability from a third party […]”

    Subscribe

    Receive email updates from our team

    Subscribe